castle leasing company signs a lease agreement on january 1, 2017, to lease electronic equipment to jan way...........

Exercise 21A- a-Ii Castle Leasing Company signs a lease agreement on January 1, 2017, to lease elecironic equipment to Jeri Way Company. The win ()f'le neneariielaule Ieae e 2 years, and payments are mqulred at are end oreaen year.11re flilowing inronriation relates to are agremient: 1. Jal'l Way has the ODHOII Ito Durdlse the Nunment for$16,000 upon termlnation ufle lease. It is mt reasunb'v min that Jan may nil eneru'se this qm'mi. 2. The eaulnment has a cost af$120,000 and lair value of $159,000 to Casue Leasino.11ie usdul economic life is 2 years, wiui a rmiinal value or $16,000. 3. castle Lenng dmirm to earn a iehim (215% on ils immstment. 4. Culledibility or ine paymelis by me Leaeng e pmhae. prepare thejeumal enlnes an the banks or Caeue Leasing in reertle paymerls reeeiyed urlier uie lease and to remgniza Income foruie years 2017 and 2013. m mints-aw Deli Crul enter an woman one fortlie jaumal entry on mitera oehit anuunt enter a credit arroiint January 1 2017 enter an amuml e Fur the juumal aner on enter a debit amount enter a credit amount January 1 2017 lll enter an admin! rie for the jaumal entry on enter a debit anuunt enter a credit anuunt January 1 2017 lII enter an aoooi-it tine Fortlie journal entry on eriitera debit annurlt eriiter a credit Enuunt January 1 2017 lll dmse a transaction data enter a debit amount enter a credit amount enter Ill amnmt tide l II me, a" amme eriiter a det-t arnmrlt enter a credit amount lll enter all amnmte enter a debt amount enter a u'edll Emminl lII droose a tiamadmn date enter a" amme eriiter a det-t arnmrlt eriiter a credit amount lL'l II erter an amulllte lter a debt amount enter a u'edll Emminl lll enter a\" amounth'e eriiter a detrt inuunt eriiter a credit arriount lII ASuming uiatJan Way exerrasis its upm to purchase the equipmmt on neeerriher 31, 201E, piepareuiejmmal entry to Heard the sale on Caaie Leasing's hauls m minimise-iii m Debit cieiit Ertet an amulllthelr thejuumalenh'yun DelEthr 31 2018 ErltHaddnt amount ulteracnaiit amount 12l3u1sl l ' eriter an BODDmt one for thejaumal entry on December 31 2018 entera dehlt amount entera credit amount lll